Page 145 - SOBHA REALTY PR REPORT - SEPTEMBER 2024

9/16/24, 2:23 PM Sobha Realty Complete USD 230 Mn Sukuk Tap, taking total Sukuk Holdings to USD 500 Mn | Web Release
Sobha Realty appointed Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD
Capital, Sharjah Islamic Bank, and Standard Chartered Bank as Joint Global Coordinators, Joint Lead Managers, and

Bookrunners for this transaction. Their expertise and commitment have been instrumental to its success.

The company also acknowledges Clifford Chance and Dentons for their exceptional legal counsel, which provided
critical guidance throughout the transaction. Additionally, Grant Thornton’s role as auditors was pivotal in ensuring the

integrity and transparency of the process.

This announcement follows recent upgrades from leading credit rating agencies. Standard & Poor’s has upgraded our
rating from BB-/Positive to BB/Stable, while Moody’s has upgraded our sukuk rating from Ba3/stable to Ba2/stable.

These upgrades reflect our strong financial results, including substantial EBITDA growth, a larger revenue backlog, and
improved EBITDA margins.

Sobha Realty is confident this strategic move will further fortify its financial position and reinforce trust with its

stakeholders.

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